6:50 am, March 28, 2025
UK not planning retaliatory tariffs on US ‘at the moment’, says Chancellor
The UK is not planning ‘at the moment’ to introduce retaliatory tariffs on the US, Chancellor Rachel Reeves has said after Donald Trump imposed a new trade tax on car imports.
A 25% tariff on vehicles imported to the US will come into effect on April 2, the US president announced on Wednesday.
Shares in UK carmaker Aston Martin dropped sharply when stock markets opened on Thursday morning but Ms Reeves told Sky News: ‘We’re not at the moment at a position where we want to do anything to escalate these trade wars.’
Job loss fears at British Steel
Unions are calling on the Government to help secure the future of British Steel after the company announced it is consulting on closing blast furnaces, raising fears of heavy job losses.
Community, the GMB and Unite said it was ‘devastating’ news that British Steel’s Chinese owner Jingye is launching a consultation on closing the blast furnaces at Scunthorpe steelworks this June, or at a later date if an agreement with the Government can be reached.
Scunthorpe steelworks employs thousands of workers directly and through supply chains throughout the UK.
Porsche boosts range of Taycan with larger battery
Base versions of Porsche’s electric Taycan have gained an increase in range courtesy of a larger battery.
Both Taycan and Taycan 4S cars now get a Performance Battery Plus setup, which increases the battery capacities of both cars from 89kWh to 105kW, adding around 50 miles of range as a result. It means that the range for the standard Taycan now stands at 421 miles.
The base Taycan has also been given a broader level of standard equipment, including 19-inch ‘S Aero’ wheels, while the interior of the car can now be finished in leather-free Peipta or Race Tex material for a more upmarket feel.
FTSE and European counterparts fall in value as US tariffs hit car stocks
European equity markets finished in the red on Thursday as motor stocks were dragged by US President Donald Trump’s decision to slap a 25% import tax on cars.
London’s stock markets were relatively sheltered from the announcement, although Aston Martin dropped by 6.7% as its investors swallowed the potential impact on US sales.
London’s top index finished 23.47 points, or 0.27%, lower to end the day at 8,666.12. Elsewhere in Europe, the German Dax was firmly lower as Volkswagen and other car manufacturers lost value. The Cac 40 ended 0.51% lower for the day and the Dax index was down 0.77%.
Thursday on Car Dealer
Daksh Gupta is back in the motor trade after taking chairman role at car dealer Hendy Group
Daksh Gupta has been appointed non-executive chairman at Hendy Group, joining amid a leadership reshuffle. His experience at Marshall Motor Group will support Hendy’s expansion plans. CEO Paul Hendy says the strengthened board will help the company stay agile and seize new opportunities in the evolving motor retail sector.
UK in ‘extensive’ talks with US on car import tariffs as SMMT brands 25% levy ‘disappointing’
The UK government is in talks with the US over new tariffs, which the SMMT called ‘disappointing.’ Trump claims the 25% tariff will boost US manufacturing. Chancellor Rachel Reeves emphasised strong UK-US trade ties, while industry leaders warn of negative impacts on both economies, urging a deal to avoid disruption.
UK car production falls for 12th month in a row as industry is ignored in spring statement
UK car production fell for the 12th straight month in February, down 11.6% year-on-year. The SMMT criticised the spring statement for lacking industry support. Exports to the EU and China dropped, while US shipments rose. Unite warned of job risks, urging government action to support manufacturers and the green transition.
Why car dealers need to be getting plugged into used EVs right now – Cox Automotive
The number of used EVs in the UK is set to surge by 170% by 2028, according to Cox Automotive research. Dealers must adapt to this shift, as EV prices stabilize and performance matches ICE vehicles. Experts urge retailers to embrace the growing pre-owned EV market for future success.
New research reveals obstacles to environmental compliance in automotive industry
New research reveals that 73% of UK automotive businesses feel environmental regulations add pressure, while 72% cite high compliance costs. Nearly half struggle to understand regulations, and 37% have faced penalties. Metro Rod urges industry-wide action, offering guidance on pollution prevention to help businesses improve sustainability and avoid legal risks.
Environmental campaign group Just Stop Oil announces end to direct action
Environmental campaign group Just Stop Oil has announced it will stop direct action, claiming it has won its demand to end new oil and gas.
The group had drawn attention, criticism and jail terms for protests ranging from throwing soup on Vincent van Gogh’s Sunflowers and spray painting Charles Darwin’s grave to climbing on gantries over the M25.
In a statement, the campaign group said: ‘Just Stop Oil’s initial demand to end new oil and gas is now Government policy, making us one of the most successful civil resistance campaigns in recent history.’
Two in five drivers say they have no alternative to the car for commuting
Two out of five (40%) drivers say they have no feasible alternatives to the car for getting to work, a new survey suggests.
For those living in rural locations the figure rises to 70%.
The RAC, which commissioned the poll, said the Government is ‘very focused on improving public transport’ but its research shows the car ‘remains central to so many people’s lives’.
Weather outlook…
The UK will today experience a mix of sun and clouds with scattered showers, particularly in the morning.
Temperatures will range from highs of 9°C to 14°C and lows between 3°C and 4°C. Breezy conditions are expected, especially before midday.
Overall, anticipate a cooler day with intermittent sunshine and passing showers across various regions.
